Bank of America’s P/E ratio has fallen back to earth to 14.5 versus 17 just before the Fed hike in March and has fallen 12% YTD. Forward P/Es for JPMorgan Chase, Wells Fargo, and Bank of America have recently converged to 12 as economic growth expectations have waned.With the correction of its P/E, Bank of America is more

With the correction of its P/E, Bank of America is more in line with its peers but still trades at a slight premium.

As a result, any drop in Treasury yields might put pressure on BofA’s stock. However, any dips will likely pose attractive entry points for long-term investors.

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